Dáil debates

Wednesday, 15 December 2010

Credit Institutions (Stabilisation) Bill 2010: Second Stage

 

4:00 pm

Photo of Michael NoonanMichael Noonan (Limerick East, Fine Gael)

Like the Taoiseach, the EU must be speaking in riddles as well.

Another purpose is to facilitate the availability of credit in the State. That is a worthy purpose because there is a serious lack of credit at present, and I wish the Minister would do something to provide it. However, I searched the Bill and could not find any measure to put this objective into effect. There is no credit flow. As some classical scholar said in an analysis piece, of which I reminded the Minister previously, currency derives from the word currere, to flow. It means the flow of funds through the system, without which the economy dies. There is no flow of funds through the system at present. While the objective is worthy, it is not put into practice under the provisions of the Bill.

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